Winslow Evans & Crocker Inc. trimmed its holdings in Albemarle Co. (NYSE:ALB) by 2.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,700 shares of the specialty chemicals company’s stock after selling 198 shares during the quarter. Winslow Evans & Crocker Inc.’s holdings in Albemarle were worth $474,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in Albemarle by 10.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,218,626 shares of the specialty chemicals company’s stock worth $93,921,000 after acquiring an additional 116,753 shares during the last quarter. Geode Capital Management LLC increased its stake in Albemarle by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 1,358,277 shares of the specialty chemicals company’s stock worth $104,495,000 after acquiring an additional 67,439 shares during the last quarter. Two Sigma Advisers LP bought a new stake in Albemarle during the fourth quarter worth approximately $3,904,000. Municipal Employees Retirement System of Michigan bought a new stake in Albemarle during the fourth quarter worth approximately $463,000. Finally, Kentucky Retirement Systems bought a new stake in Albemarle during the fourth quarter worth approximately $356,000. 90.08% of the stock is currently owned by institutional investors.
Shares of NYSE ALB traded up $0.34 during trading hours on Wednesday, reaching $73.94. The stock had a trading volume of 66,462 shares, compared to its average volume of 927,520. The company has a current ratio of 1.55, a quick ratio of 0.96 and a debt-to-equity ratio of 0.36. The firm has a market cap of $7.82 billion, a price-to-earnings ratio of 13.49, a price-to-earnings-growth ratio of 0.78 and a beta of 1.63. The company has a fifty day moving average price of $71.52. Albemarle Co. has a 52-week low of $63.10 and a 52-week high of $108.74.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $0.3675 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.99%. Albemarle’s payout ratio is 26.82%.
Several brokerages have issued reports on ALB. KeyCorp restated an “overweight” rating and set a $94.00 target price (down previously from $100.00) on shares of Albemarle in a research report on Tuesday, July 9th. Loop Capital dropped their target price on Albemarle to $108.00 and set a “buy” rating for the company in a research report on Thursday, May 16th. ValuEngine lowered Albemarle from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 2nd. Jefferies Financial Group dropped their target price on Albemarle from $114.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, May 20th. They noted that the move was a valuation call. Finally, TheStreet lowered Albemarle from a “b-” rating to a “c+” rating in a research report on Monday, May 20th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $95.77.
In other news, SVP Deeanne J. Marlow purchased 1,000 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was purchased at an average price of $70.85 per share, for a total transaction of $70,850.00. Following the completion of the acquisition, the senior vice president now owns 1,000 shares of the company’s stock, valued at $70,850. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.02% of the stock is currently owned by insiders.
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and value-added lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and electric vehicles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes, life science, pharmaceutical, and other markets.
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